Canada's domestic economy is heavily reliant on a hot real estate market. If investors get sour on buying Canadian housing, so goes our economy. There will be winners and losers (mainly renters and prospective home buyers that still have jobs) but a net loss for Canadians in general.
I think rental in Toronto has reached the ceiling…And the economy is headed south…pay has frozen for the last 10 years..only few can afford and the rest will crowd together and the landlords will not like that situation..rent has to go down
rents and box condo prices went way to high for Toronto...should have never been anywhere near $2K/sq ft. The market is simply leveling out from inflated pricing.
Lower condo rent, lower condo prices, leads to lower detached home prices because no body wants to rent a basement if they can rent a cheap condo with view. Many people rely on renting their basement in order to pay for mortgage. Well that option is gone now.
I have the world's smallest violin for these professional landlords that have profited immensely over the last 4-5 years of artificial inflation and driven good people out of their homes. Rents need to come down by around 30-40% to where they were pre-covid (adjusted for inflation/demand/etc.)
buildings stop getting built and communities stop forming if the money stops, or even reduces. jobs, schools, retail, all depend on the cash these investors have been putting up the last 2 decades
@ I’m no economist and I understand that driving up assets is necessary for the capitalist growth model but I just don’t see how it is a sustainable proposition. It doesn’t happen in a vacuum, sooner or later the chickens will come home to roost & the bubble will burst. We are already in a recession. Homelessness is at an all time high.
Not true. Governments would just be forced to better allocate funds. Most of the tax generated from a hot real estate market is currently wasted on unnecessary programs. The other taxes that exist are more than sufficient for funding a reasonable level of government spending.
This is great. Why should housing be unaffordable for people and companies to profit? Affordable housing should be the standard and right for all not an investment vehicle. Keep building more units, shrink the landlord class.
It's catastrophic for you but what about all the hundreds of thousands of people struggling. People like you help create this problem and benefit from it I feel bad for the people younger than me who cant get a job or a place to live
They never drop substantially. I have heard that for the last 20 years, and they never dropped. Instead, they can stabilize for some time until inflation catches up
Lmao then don't rent your house our😂😂 wtf do you expect bro. Part of doing business and the risk. Bro you already have such cash flow positive. Why don't you try opening a restaurant then it brick & motar business. You can also become a drug dealer too. That's easy money
Man I was made to pay 6 months rent upfront from you idiot "investors". I dont feel bad for you one bit. Ill enjoy buying a property at bargain prices in the next 3 years. I know you "investors" love to tag us renters as losers. Welp lets just say I have top 1% income in this country. Close to top 0.5% and I drive a toyota corolla. Wealth whispers. Good luck with your crappy attitude towards the middle and lower class. You reap what you sow.
With the average monthly income in Ontario, maximum rent for 1BR unit should only be $1200 and $1500 for 2BR. We would love to see that greed bubble burst.
Good! I hope those arrogant small landlords who can’t afford their properties lose them! When small landlords decided they were business owners and took the humility out of housing you all screwed over a lot of people!
My building is now offering cash to tenants who refer a friend. Mind you, their listed prices is still waaaay too high 3100 for a three bedroom in this building is ridiculous
We need rent control regardless of the year the building was made, period.. Many vacancies on these condos because the rent is ridiculous for a shoe box..
rent control actually makes rents higher. We need a free market system for builders, landlords and entrepreneurs. The renters would be way better off under this system. Sad, the renters vote NDP because of their election promises, lol
Ten units in the apartment building I live in Mississauga , for rent , NO renters, the new landlord drake property management making it difficult for the tenants ,so they are all moving out, fixing the new apartment charging 4000 dollars for an apartment .
@@PrimePropertiesTOThe best part about the new RE market is people actually have to learn market fundamentals. You make 100% of 0 if you refuse a reasonable offer, so it's better to offer things at a price that will move. Prices can't grow infinitely. If you ruin your relationship with your customer base, you will have no customers. It ain't 2021 anymore, it's almost 2025!
@@donm2067 not true Don, there are more reasons that landlords want to have vacant properties. In BC it is often better to have no tenant than a mediocre tenant that causes headaches. With high taxes, a loss is good to offset some other income gains.
@@DummMoney-rr1fi how old are you? You got a big boomer feel about you. Something about your delusional view screams "I came from money, yet I'll say I'm self made".
The main problem of Canada’s economy is there are no new industries generating new jobs and the only thing fueling growth is domestic consumption and immigrants bringing in their assets from other countries. We need to grow new industries in Canada we’ve been selling beef and lumber for far too long.
I can't speak for the City of Toronto, but Canada's housing shortage is getting bigger each month- despite federal government reductions in immigration. More than 70 percent of Gen-Z households cannot qualify for a mortgage loan on a 1000+ square foot home. So they must be rental tenants. Residential real estate investors are in retreat because (1) the federal government intends to raise the Capital Gains Tax inclusion rate on secondary residences to 88 2/3 percent, (2) most provinces have rent control legislation, and (3) the cost of borrowing is too high for them to make a reasonable return on investment within 5 to 7 years.
I've been expecting this for a while, I've been watching the rental stock go up higher and higher. This could be the final straw to shake out those "investors" who are already renting out condos in a cashflow negative situation.
serves them right for being GREEDY AF. renters aren't your Income providers .. it was to have money to HELP you in general and help renters have a place to live... NOT to PAY your Mortgage ... it is not our FAULT for your Financial leveraging or your financial situation and we are not the Solution to NOT WORKING.. we make less then all of you ..since you have a HOUSE or Condo lol I mean MAKE it make sense... GOOD I am glad it will go down. Need to be Humbled ... they literally treat renters like garabe and push away ACTUAL good people.. invasive as well . I would love to have BACKGROUND check on my Landlords.... yikes.. and I would love to talk to theri employer and know where they work and their income and their credit score and credit history... to know I am not renting from a SCAMMER or theft/con... or as they would likely say " dirtbage/loser/problem". I hope it is for CANADA across the Board... the rents in Calgary are an abomination ..
That’s the point dummies..u pay my mortgage n I give u a place to sleep..if buyers don’t buy property to rent where do renters plan to sleep ? And in order for me to risk something like that there needs to be some incentive..if interest rates weren’t so high and if there was more supply rent wouldn’t be that high..blame the government why rent is high..the made it easy for condos to go up where there’s already gonna be a premium cuz it “luxury”..when they shouldve incentivized companies to build apartments..so people wouldn’t have to rent a higher priced condo..but it’s not the landlords fault..most landlords of condos r regular not companies
Mmmm the pension funds are continuing to invest because even with all that inventory coming on the market, we are still shortage to meet the demands. The problem isn't that housing is too expensive. It is that people are underpaid. We have too many universities graduates and immigrants fighting for the same limited jobs.
Rents are too high and I say this having a few properties myself against my own interest….but…..the fact the tenant has more power then the landlord is totally screwed up. Rents should be lower and landlords should be able to dispose of their properties as they are pleased to be in a fair market
Not mentioning churn rates. When rent is declining, which lets face it, it should in Toronto, we are seeing a churn rate. Not all of the listings are new units. Alot are churned units.
Sure, if you have 10-15 years to wait for the price to recover in real terms. A lot of Canadians can't absorb a major correction to house prices because they've based their finances on prices only going in one direction.
@@Chase_CX-p5g You don't need much new inventory when the population is set to shrink in the next 3 years. There's also a record amount of housing completions hitting the market in 2025.
Depends where you are in the food chain but as he makes the point that this is relevant to both landlords and renters if you're a happy homeowner and you're not planning on buying or selling in the next several years then yeah you should be reading happy ever after RUclips's instead of here
I wonder given you are a real estate agent who dumps on the Toronto market day in and day out, how are you making a living ? Don’t you rely on convincing people to buy over priced housing ?
??? What are you talking about? There is still a housing crisis and not enough supply. I am in housing and we struggle to find supply for our at risk client and the homeless..clearly not researched..if prices go down access is easier and there would issue filling the units
Living in a 1 bedroom in Yorkville that was leased in August 2022. I can now get a 1+1 bedroom in the same building for $100 more. Comparable apartments now renting for $200-300 less.
Their aunts and uncles live in India. Rupees converted to Canadian dollars is like 1,000,000 rupees equals about 5 cents in Canada. They won't be signing anything.
We can't afford your overpriced shoebox apartments. Can't wait till we see the landlords crying the blues after years of them squeezing every last dime they could out of renters. When you see landlords offering 1 month free and free tv's you know its their last ditch effort before they have to start to cut prices. Hope you feel the pain.
Totally agree!! That whole high rent debacle was nothing but pure greed. What did these landlords think would happen when they made rents unaffordable. People just seek alternative solutions!
as a young homeowner renting out my house, let me just say, you dont know what youre talking about. rent goes up as a result of housing going up. our mortgage payments go up so we have to set the rent accordingly. not everyone can take the hit of carrying their mortgage nowadays
@@donm2067 My weekly Costco bill is usually around $500. That doesn't nclude other grocery stops or eating out. I'd venture a guess, I spend 6k or so a month to feed a family of 5
Dat bubble just begining to pop. Silent depression not even lower intrest rates will save. This train is in motion towards that bridge outage. RUN FROM CANADA!
For all those people who think T is making idle threats, come January 21 youre going to wish you had never bought that house with 5% down. because RE goes down too.
He keeps on emphasizing of declining birth rate to declining rental eate and occupancy! What a clown! Common sense tells you its not declining birth rate but declining income power of workers, average median income of workers in Ontario is 65K annually, now do you think your common sense tell you that absurd rental rate will do market price correction to reflect the median average income of $65K? Now who profitted with all these mess up? Common sense will tell you right away and it has nothing to do with declining birth rate. Freeze immigration and fix the social, health and economic infrastructure that will inverse to WEF direction and benefitted Canadians!
You have been ripping off the renters for decades creating and benefitting from market manipulation.There are 10s of thousands of Canadians including seniors living in tents this winter so pardon me If I dont give a crap that you wont get your 3k per month per unit.Rents should not exceed 1k per month for a 1 bedroom and less for a studio.
tell that to the manufacturers of all the products that go into a building. Try and tell the electrician to take a pay cut down to, hmmm, 8$ an hour? You are smoking something that alters your reality.
@@DummMoney-rr1fi use less expensive materials,I'm a welder and companies have told me straight up we're not paying anyone 60 bucks an hour I don't care what the govt says I've been passed over cause I've priced myself right out of the market,the solution isn't pay more wages its reduce the size of govt to lower taxes to lower cost of living and you're smoking something if you don't understand if people can't afford your product they dong buy it and you go out of business.Go ahead build million dollar homes and they'll sit empty, we'll have ghost cities just like in china.New empty houses on one side of the street and homeless encampments on the other.
@@DummMoney-rr1fi i see the ministry of truth deleted my last comment.I'm a welder and at 55 per hour base rate I've had companies refuse to hire me cause I cost too much.The system is not sustainable, people are not going to pay a million dollars for a house that really costs a fraction of that.We'll start to see ghost cities on one side of a street homeless on the other.I don't blame the developers entirely I know the govt is mostly to blame with their excessive taxes.Housing market will crash or people will start building cabins in the woods or living in RVs basically opting out of the corrupt market.
Where is he getting that the population is shrinking? Where I live, our rents were awesome before 2020, you could get a 3 bedroom apartment for 900, including utilites except power, you could rent a room for 400-500 in someone else house. Now we have too much population for our rentals, it is 1800 plus utilites for a 3 bedroom apartment, 750 to rent a room in someone's house, and everything is going up every single month. For a house, you are looking at over 2000, closer to 2500 plus utilities, in 2018, I rented a house for 1400. Not seeing the population shrinking at all.
The landlords with tenants wont lower rents. And my apt hasnt received needed attention in the 3 yrs ive lived here, yet they raise rent maximum amt yearly. A posted non smoking building, filled with foreign students smoking constantly.
Then the tenants should move, and those landlords will have empty units. Landlords only have leverage when there's scarcity. When there's a high vacancy rate, renters hold all the cards and landlords are effectively at their mercy.
@@ElectronicWasteland-p2x yes, true, the worst is yet to come when the undersupply of new units that won't come over the next decade will drive rents through the roof
@@DummMoney-rr1fi If the population collapses you could easily end up with an oversupply of units despite no new units coming on the market. Also the business of housing construction can only stay inoperable for so long before they'll need to move off the sidelines and start building again. They're on intentional hiatus waiting for a hot market again, but if the hot market doesn't come they'll eventually have to cut costs and sale prices to stay in business. Absent re-inflation of the bubble, all levels of the housing construction business will need to accept less money for what they do.
People are stupid you still need a place to live rent wont go down considerably to make a difference. They will always still be high What do you think all of a sudden 1 bedroom in toronto will drop to 850
People aren’t willing to pay $2400+ for a 500 sqft with parking. It’s actually causing young professionals (who make up a chunk of the condo rentals) to stay back home, which I’d say is smart thing to do in this economy. Rents for 1 beds in Toronto will continue dropping at current pacing with huge inventory of investors’ units on the way for 2025 - it’s basic science of supply and demand.
Will it go back to $900 for a 3 bedroom in Toronto? If not then all these exaggerated adjectives about scary, concerning ...are just that exaggerations
Am I i missing something here? Rental prices decreasing means more people having the ability to sustain themselves and their families in these troubled times. If the prices rise or even stagnate, that means people will have no choice but to leave. When people continue to leave in droves like they're currently doing, then who will drive the economy?
I don’t see this as bad news…rental prices are ridiculously high and need to come down..most people still can’t afford to live in Toronto and GTA…real estate sector and builders got greedy and now they are reaping what they sowed…more to come..cost of living needs a reset so majority of people can afford to live here again.
So let me get this straight, you cant just by a trash product at any price (over pay by double), charge a ridiculous amount and live like Robert Kiyosaki
lol, let me straighten you out. I'd call the product, expensive and hard to build. The market pays what the market will bear for any product. I don't see you complaining about the 7$ specialty starbucks coffee
Buddy. You can hold reverse auctions in a building so easy. Landlord needs to offer lowest bid. Sit and wait. Do it end of the month. For max pain. 😅😅😅
@PrimePropertiesTO Your presentation doesn't say Q4 data of 2024 are projections. You're comparing actual numbers of Q3 FY2023 with projections of Q4 FY 2024 without telling it is projection figures!! It shows how little you know about the concept of data analysis!
Let's hope rents keep falling and more and more people move out of canada. Yes slumlords will be collateral damage but honestly we have way to many people just sitting around collecting rent and surfing the net. We have way to many people sitting around living off rent not really producing any other service or goods.
Is mass immigration used to intetionally prop up rental prices in Canada? We don't see any good economy improvements and GDP per capital is in fact the lowest among G7
We'll weather the storm for two years, and we'll see what 2028 brings when we finally catch up with virtually zero housing starts in the past two years.
Please call out #DougFord and the developers/donators who were at his political functions, weddings of his daughter(s), and more. Call out how and why, dare i say for whom #DougFord REMOVED the rent cap.
Lower interest rates means most investors are back into positive cashflow. PBRs aren't any cheaper.... the cost to build them are the same to build a condo building... they will be charging the highest rate as well.... and will be the ones losing the most money if vacancy rates go up. They can't reduce their rents either or else they've basically lit their money on fire.
Some units are cash flow positive already. The purpose built rentals actually require more equity than a condo building. That's way more capital intensive. They won't know where rents because they'll their value due to low cap rates.
Um sorry for your woes but renters have been taken advantage of for years. People that have been taking everyone for what they are worth even though it leads to terrible hardship don't get my sympathy.
I've seen some 2 bedrooms for $1999...I mean, it's a tiny bit better...I started renting 10 years ago at $850. Now, it's $1100. I doubt it will ever get back down to what I'm currently paying.
Affordable housing, how incredibly scary😱
It's as if they want to keep the streets permanently littered with the homeless so they can rub shoulders together...
how is this bad news? This means housing is or will become more affordable
Bad news for speculators
but the dollar goes to crap, everyone loses their job and nobody can afford to have a good life. yeah. awesome.
Canada's domestic economy is heavily reliant on a hot real estate market. If investors get sour on buying Canadian housing, so goes our economy. There will be winners and losers (mainly renters and prospective home buyers that still have jobs) but a net loss for Canadians in general.
Bad news for the home owners. Not the broke ppl Renting
Nah, Toronto slumlords are criminals.
Lots of people are going to be finding out for the first time that all investments have risk, including amateur landlording.
This isnt bad news. Its just the INFLATED prices coming down.
This is great for renters which makes me happy
I think rental in Toronto has reached the ceiling…And the economy is headed south…pay has frozen for the last 10 years..only few can afford and the rest will crowd together and the landlords will not like that situation..rent has to go down
Heading south alright to Florida
the whole country better hope not
rents and box condo prices went way to high for Toronto...should have never been anywhere near $2K/sq ft. The market is simply leveling out from inflated pricing.
Lower condo rent, lower condo prices, leads to lower detached home prices because no body wants to rent a basement if they can rent a cheap condo with view. Many people rely on renting their basement in order to pay for mortgage. Well that option is gone now.
as it should be. Basement rental is absurd. No human should rent a basement. It is cold , loud and demeaning
It was never supposed to be this high in the first place.
It's just about time it balances itself out.
free market working
I have the world's smallest violin for these professional landlords that have profited immensely over the last 4-5 years of artificial inflation and driven good people out of their homes. Rents need to come down by around 30-40% to where they were pre-covid (adjusted for inflation/demand/etc.)
buildings stop getting built and communities stop forming if the money stops, or even reduces. jobs, schools, retail, all depend on the cash these investors have been putting up the last 2 decades
@ I’m no economist and I understand that driving up assets is necessary for the capitalist growth model but I just don’t see how it is a sustainable proposition. It doesn’t happen in a vacuum, sooner or later the chickens will come home to roost & the bubble will burst. We are already in a recession.
Homelessness is at an all time high.
Not true. Governments would just be forced to better allocate funds. Most of the tax generated from a hot real estate market is currently wasted on unnecessary programs. The other taxes that exist are more than sufficient for funding a reasonable level of government spending.
@@vert911 this is the most intelligent comment of 2024
I agree totally, and I'm a Ma & Pa level landlord. None of my tenants need to shop around.
This is great. Why should housing be unaffordable for people and companies to profit? Affordable housing should be the standard and right for all not an investment vehicle. Keep building more units, shrink the landlord class.
It's catastrophic for you but what about all the hundreds of thousands of people struggling. People like you help create this problem and benefit from it I feel bad for the people younger than me who cant get a job or a place to live
Home price needs to drop substantially, but the government will probably do anything to prevent that
It's going to crash like a sack of potatoes. Wait until end of March
@ what even is there on March mate?
They never drop substantially. I have heard that for the last 20 years, and they never dropped. Instead, they can stabilize for some time until inflation catches up
Then people will lose jobs
@@mijas-rus2715 08-09.....
I’m more afraid of renters being protected for destroying my property, there seems to be no consequences for renters now who can do whatever
maybe an investment more within your risk profile would be better for you
some professional renters are only there to scope out the place, not pay rent and take everything.
Lmao then don't rent your house our😂😂 wtf do you expect bro. Part of doing business and the risk. Bro you already have such cash flow positive. Why don't you try opening a restaurant then it brick & motar business. You can also become a drug dealer too. That's easy money
Man I was made to pay 6 months rent upfront from you idiot "investors". I dont feel bad for you one bit.
Ill enjoy buying a property at bargain prices in the next 3 years.
I know you "investors" love to tag us renters as losers. Welp lets just say I have top 1% income in this country. Close to top 0.5% and I drive a toyota corolla.
Wealth whispers.
Good luck with your crappy attitude towards the middle and lower class. You reap what you sow.
I live in Toronto I helped landlords with bad tenants
I'm sorry, how is this bad news??
You must be champion for high rents for profit.
With the average monthly income in Ontario, maximum rent for 1BR unit should only be $1200 and $1500 for 2BR. We would love to see that greed bubble burst.
Good! I hope those arrogant small landlords who can’t afford their properties lose them! When small landlords decided they were business owners and took the humility out of housing you all screwed over a lot of people!
My building is now offering cash to tenants who refer a friend. Mind you, their listed prices is still waaaay too high 3100 for a three bedroom in this building is ridiculous
Thanks for sharing. I would imagine that's a purpose built rental then they need the right rail to show highlights regardless of the incentive.
Well I love on Yonge and davisville on older than 2018 bad. 2 bed 1 bath 2900 - it’s still high !
We need rent control regardless of the year the building was made, period.. Many vacancies on these condos because the rent is ridiculous for a shoe box..
rent control actually makes rents higher. We need a free market system for builders, landlords and entrepreneurs. The renters would be way better off under this system. Sad, the renters vote NDP because of their election promises, lol
Ten units in the apartment building I live in Mississauga , for rent , NO renters, the new landlord drake property management making it difficult for the tenants ,so they are all moving out, fixing the new apartment charging 4000 dollars for an apartment .
Sounds like they're trying to boost their rent roll.
@@PrimePropertiesTOThe best part about the new RE market is people actually have to learn market fundamentals.
You make 100% of 0 if you refuse a reasonable offer, so it's better to offer things at a price that will move.
Prices can't grow infinitely.
If you ruin your relationship with your customer base, you will have no customers.
It ain't 2021 anymore, it's almost 2025!
@@donm2067 not true Don, there are more reasons that landlords want to have vacant properties. In BC it is often better to have no tenant than a mediocre tenant that causes headaches. With high taxes, a loss is good to offset some other income gains.
@@DummMoney-rr1fi how old are you? You got a big boomer feel about you.
Something about your delusional view screams "I came from money, yet I'll say I'm self made".
Lower rent = lower inflation = lower interest rate by BOC
Lol.
That’s not the only component of inflation it’s not that directly related unfortunately we will still be screwed.
The main problem of Canada’s economy is there are no new industries generating new jobs and the only thing fueling growth is domestic consumption and immigrants bringing in their assets from other countries. We need to grow new industries in Canada we’ve been selling beef and lumber for far too long.
Money printing when you don't have a reserve status currency interest rates go up. You can't fool the speculators- just look at Britian
The issue will be fewer new projects.No investors investing in rentals and the supply will be limited again.
I can't speak for the City of Toronto, but Canada's housing shortage is getting bigger each month- despite federal government reductions in immigration. More than 70 percent of Gen-Z households cannot qualify for a mortgage loan on a 1000+ square foot home. So they must be rental tenants. Residential real estate investors are in retreat because (1) the federal government intends to raise the Capital Gains Tax inclusion rate on secondary residences to 88 2/3 percent, (2) most provinces have rent control legislation, and (3) the cost of borrowing is too high for them to make a reasonable return on investment within 5 to 7 years.
I've been expecting this for a while, I've been watching the rental stock go up higher and higher. This could be the final straw to shake out those "investors" who are already renting out condos in a cashflow negative situation.
dropping interest rates has pushed most buyers back into positive cashflow.... people that have held for a while are definitely making money.
@@GreenBeanGreenBean Rates will spike higher next year as inflation soars.
@@GreenBeanGreenBeanlol I swear you're either on drugs or need drugs.
All temporary workers if they are employed and citizens are unemployment… what happens trw 6 people stay in 2 bedrooms
serves them right for being GREEDY AF. renters aren't your Income providers .. it was to have money to HELP you in general and help renters have a place to live... NOT to PAY your Mortgage ... it is not our FAULT for your Financial leveraging or your financial situation and we are not the Solution to NOT WORKING.. we make less then all of you ..since you have a HOUSE or Condo lol I mean MAKE it make sense... GOOD I am glad it will go down. Need to be Humbled ... they literally treat renters like garabe and push away ACTUAL good people.. invasive as well . I would love to have BACKGROUND check on my Landlords.... yikes.. and I would love to talk to theri employer and know where they work and their income and their credit score and credit history... to know I am not renting from a SCAMMER or theft/con... or as they would likely say " dirtbage/loser/problem". I hope it is for CANADA across the Board... the rents in Calgary are an abomination ..
I completely agree with you
You speak the truth.
Renters have been footing the bill for landlord lifestyles for 15 years now. That's not how it works.
That’s the point dummies..u pay my mortgage n I give u a place to sleep..if buyers don’t buy property to rent where do renters plan to sleep ? And in order for me to risk something like that there needs to be some incentive..if interest rates weren’t so high and if there was more supply rent wouldn’t be that high..blame the government why rent is high..the made it easy for condos to go up where there’s already gonna be a premium cuz it “luxury”..when they shouldve incentivized companies to build apartments..so people wouldn’t have to rent a higher priced condo..but it’s not the landlords fault..most landlords of condos r regular not companies
Mmmm the pension funds are continuing to invest because even with all that inventory coming on the market, we are still shortage to meet the demands. The problem isn't that housing is too expensive. It is that people are underpaid. We have too many universities graduates and immigrants fighting for the same limited jobs.
The pension funds are investing because they need a return to pay out the pensions on a perpetual basis.
Rents are too high and I say this having a few properties myself against my own interest….but…..the fact the tenant has more power then the landlord is totally screwed up. Rents should be lower and landlords should be able to dispose of their properties as they are pleased to be in a fair market
Doubt that'll be happening anytime soon in Ontario.
@@PrimePropertiesTO try BC, it's way worse here
Not mentioning churn rates. When rent is declining, which lets face it, it should in Toronto, we are seeing a churn rate. Not all of the listings are new units. Alot are churned units.
People that just collect rent from other’s work should always be scared and concerned.
Good, we need a renters and buyers market.
Who cares, real estate is long term. None of this doom and gloom matters. Same old story, on all of these channels.
I care, because this presentation will help me to argue with my landlord to reduce my rent not to increase it
Sure, if you have 10-15 years to wait for the price to recover in real terms. A lot of Canadians can't absorb a major correction to house prices because they've based their finances on prices only going in one direction.
10-15 years with relatively no new inventory past 2026?
@@Chase_CX-p5g You don't need much new inventory when the population is set to shrink in the next 3 years. There's also a record amount of housing completions hitting the market in 2025.
Depends where you are in the food chain but as he makes the point that this is relevant to both landlords and renters if you're a happy homeowner and you're not planning on buying or selling in the next several years then yeah you should be reading happy ever after RUclips's instead of here
I wonder given you are a real estate agent who dumps on the Toronto market day in and day out, how are you making a living ? Don’t you rely on convincing people to buy over priced housing ?
because these scum bags are using a joint scare tactic effort on social media to scoop up deals for themselves
??? What are you talking about? There is still a housing crisis and not enough supply.
I am in housing and we struggle to find supply for our at risk client and the homeless..clearly not researched..if prices go down access is easier and there would issue filling the units
Living in a 1 bedroom in Yorkville that was leased in August 2022.
I can now get a 1+1 bedroom in the same building for $100 more.
Comparable apartments now renting for $200-300 less.
Sounds about right. 10% off will get you a den.
most of the 5 million people wont be leaving because there is no effective mechanism to do so. their aunts and uncles will sign leases for them.
Their aunts and uncles live in India. Rupees converted to Canadian dollars is like 1,000,000 rupees equals about 5 cents in Canada. They won't be signing anything.
@@parkerbohnn indians have 17 aunts and uncles and at least one of them owns 3 houses in brampton
Just wait till we get 2M more randos in 2025
@@donm2067 Darryl is building them
We can't afford your overpriced shoebox apartments. Can't wait till we see the landlords crying the blues after years of them squeezing every last dime they could out of renters. When you see landlords offering 1 month free and free tv's you know its their last ditch effort before they have to start to cut prices. Hope you feel the pain.
Totally agree!! That whole high rent debacle was nothing but pure greed. What did these landlords think would happen when they made rents unaffordable. People just seek alternative solutions!
as a young homeowner renting out my house, let me just say, you dont know what youre talking about. rent goes up as a result of housing going up. our mortgage payments go up so we have to set the rent accordingly. not everyone can take the hit of carrying their mortgage nowadays
I’ve slashed my food budget drastically
Sorry to hear
Me too! I call it the Trudeau/Singh diet.
My family can barely afford groceries and Trudy gets 9k$ a month in free groceries
@@donm2067 My weekly Costco bill is usually around $500. That doesn't nclude other grocery stops or eating out. I'd venture a guess, I spend 6k or so a month to feed a family of 5
@@DummMoney-rr1fi cheese and crackers, I may switch my career to crack wh@re, or whatever it is you do.
I make 6k$ a month income lol
@@DummMoney-rr1fi Very reasonable, we spend around 1k each month just for 2 of us. No-frills most boring ass food, not even organic
Dat bubble just begining to pop. Silent depression not even lower intrest rates will save. This train is in motion towards that bridge outage. RUN FROM CANADA!
Trump was elected interest rates are going higher not lower.
For all those people who think T is making idle threats, come January 21 youre going to wish you had never bought that house with 5% down. because RE goes down too.
@@parkerbohnn guaranteed the Cdn $ will be in the 60 cent range by Jan 20, 2025
He keeps on emphasizing of declining birth rate to declining rental eate and occupancy! What a clown! Common sense tells you its not declining birth rate but declining income power of workers, average median income of workers in Ontario is 65K annually, now do you think your common sense tell you that absurd rental rate will do market price correction to reflect the median average income of $65K? Now who profitted with all these mess up? Common sense will tell you right away and it has nothing to do with declining birth rate. Freeze immigration and fix the social, health and economic infrastructure that will inverse to WEF direction and benefitted Canadians!
You have been ripping off the renters for decades creating and benefitting from market manipulation.There are 10s of thousands of Canadians including seniors living in tents this winter so pardon me If I dont give a crap that you wont get your 3k per month per unit.Rents should not exceed 1k per month for a 1 bedroom and less for a studio.
tell that to the manufacturers of all the products that go into a building. Try and tell the electrician to take a pay cut down to, hmmm, 8$ an hour? You are smoking something that alters your reality.
@@DummMoney-rr1fi use less expensive materials,I'm a welder and companies have told me straight up we're not paying anyone 60 bucks an hour I don't care what the govt says I've been passed over cause I've priced myself right out of the market,the solution isn't pay more wages its reduce the size of govt to lower taxes to lower cost of living and you're smoking something if you don't understand if people can't afford your product they dong buy it and you go out of business.Go ahead build million dollar homes and they'll sit empty, we'll have ghost cities just like in china.New empty houses on one side of the street and homeless encampments on the other.
Don’t understand why you are blaming investors. We are the ones that pays for property tax that support all the services in the community.
@@DummMoney-rr1fi i see the ministry of truth deleted my last comment.I'm a welder and at 55 per hour base rate I've had companies refuse to hire me cause I cost too much.The system is not sustainable, people are not going to pay a million dollars for a house that really costs a fraction of that.We'll start to see ghost cities on one side of a street homeless on the other.I don't blame the developers entirely I know the govt is mostly to blame with their excessive taxes.Housing market will crash or people will start building cabins in the woods or living in RVs basically opting out of the corrupt market.
Where is he getting that the population is shrinking? Where I live, our rents were awesome before 2020, you could get a 3 bedroom apartment for 900, including utilites except power, you could rent a room for 400-500 in someone else house. Now we have too much population for our rentals, it is 1800 plus utilites for a 3 bedroom apartment, 750 to rent a room in someone's house, and everything is going up every single month. For a house, you are looking at over 2000, closer to 2500 plus utilities, in 2018, I rented a house for 1400. Not seeing the population shrinking at all.
The landlords with tenants wont lower rents. And my apt hasnt received needed attention in the 3 yrs ive lived here, yet they raise rent maximum amt yearly. A posted non smoking building, filled with foreign students smoking constantly.
Sorry to hear. Unfortunately this sounds more common than most thing.
Then the tenants should move, and those landlords will have empty units. Landlords only have leverage when there's scarcity. When there's a high vacancy rate, renters hold all the cards and landlords are effectively at their mercy.
@@ElectronicWasteland-p2x yes, true, the worst is yet to come when the undersupply of new units that won't come over the next decade will drive rents through the roof
@@DummMoney-rr1fi If the population collapses you could easily end up with an oversupply of units despite no new units coming on the market.
Also the business of housing construction can only stay inoperable for so long before they'll need to move off the sidelines and start building again. They're on intentional hiatus waiting for a hot market again, but if the hot market doesn't come they'll eventually have to cut costs and sale prices to stay in business. Absent re-inflation of the bubble, all levels of the housing construction business will need to accept less money for what they do.
Pay more buy detached
I think it’s a buy the dip opportunity
Depends on your financial situation. Not one size fits all
i agree 100%
This is great news and how things should be for a necessity such as shelter
People are stupid you still need a place to live rent wont go down considerably to make a difference.
They will always still be high
What do you think all of a sudden 1 bedroom in toronto will drop to 850
😂😂😂😂 right? Well find the bottom shortly.
Keep wishing and maybe your wishes will come true.
People aren’t willing to pay $2400+ for a 500 sqft with parking. It’s actually causing young professionals (who make up a chunk of the condo rentals) to stay back home, which I’d say is smart thing to do in this economy. Rents for 1 beds in Toronto will continue dropping at current pacing with huge inventory of investors’ units on the way for 2025 - it’s basic science of supply and demand.
I’ve been seeing multiple one bedrooms for 800 now
@Tina-y4u6e sure you have. A bedroom within a 5 bedroom home maybe
Will it go back to $900 for a 3 bedroom in Toronto? If not then all these exaggerated adjectives about scary, concerning ...are just that exaggerations
Am I i missing something here?
Rental prices decreasing means more people having the ability to sustain themselves and their families in these troubled times. If the prices rise or even stagnate, that means people will have no choice but to leave. When people continue to leave in droves like they're currently doing, then who will drive the economy?
I don’t see this as bad news…rental prices are ridiculously high and need to come down..most people still can’t afford to live in Toronto and GTA…real estate sector and builders got greedy and now they are reaping what they sowed…more to come..cost of living needs a reset so majority of people can afford to live here again.
Good!
10 years of low interest rate and high immigration it's about time rent goes down
So let me get this straight, you cant just by a trash product at any price (over pay by double), charge a ridiculous amount and live like Robert Kiyosaki
lol, let me straighten you out. I'd call the product, expensive and hard to build. The market pays what the market will bear for any product. I don't see you complaining about the 7$ specialty starbucks coffee
@DummMoney-rr1fi The market was willing to pay whatever, because they thought they were going to make money.
That's it, that's all.
Show must go on
Still not affordable, should be more lower
Trudeaunomics at work for the people
Kick that pothead out of Ottawa.
Woohoo 🎉🎉
truth
Buddy. You can hold reverse auctions in a building so easy. Landlord needs to offer lowest bid. Sit and wait. Do it end of the month. For max pain. 😅😅😅
Just subbed
💪💪
So many homeless who were long time renters. Like alot. Don't know who the new era of renters are.
hardworking Canadians, just before they qualify and purchase Canadian Real Estate
@PrimePropertiesTO
We're in December 2024. How could you present data for the Q4 of 2024?!
This can't be published before January 2025!!
Those are projections based on earnings
@PrimePropertiesTO
Your presentation doesn't say Q4 data of 2024 are projections. You're comparing actual numbers of Q3 FY2023 with projections of Q4 FY 2024 without telling it is projection figures!! It shows how little you know about the concept of data analysis!
@@MalcomHeart Mike drop
Wow! Rent in TORONTO is cheaper than SURREY 🏘🏃♂️🏃♂️🏃♂️🏃♂️🏃♂️🏃♀️🏃♀️🏃♀️🏃♀️🏃♀️
This is good that the greedy landlord will have to lower prices
McDonald's dont pay that much
Let's hope rents keep falling and more and more people move out of canada. Yes slumlords will be collateral damage but honestly we have way to many people just sitting around collecting rent and surfing the net. We have way to many people sitting around living off rent not really producing any other service or goods.
Right? Thank you!
nice description, but that is not the reality of land lording, lol. You definitely don't own a rental property
isn't the population growing in toronto, instead of declining as you mentioned?
It could potentially be.
it most certainly is, it is growing close to 1.5% in BC, higher than that in cities with amenities
Is mass immigration used to intetionally prop up rental prices in Canada? We don't see any good economy improvements and GDP per capital is in fact the lowest among G7
We'll weather the storm for two years, and we'll see what 2028 brings when we finally catch up with virtually zero housing starts in the past two years.
Spoken like a strong condo investor 💪
try BC, there are virtually 0 SFH's being built anymore
If you like getting drone shots for your listed units let me know!
But Where we lived they Increased the Rent 4.4%
Only if the property was built after Nov 15 2018. It won't me under rent control
2 words = Owner-occupied
💪💪
Please call out #DougFord and the developers/donators who were at his political functions, weddings of his daughter(s), and more. Call out how and why, dare i say for whom #DougFord REMOVED the rent cap.
I don’t feel so good condo sisters
Really depends on when you bought
millions of empty houses and condos building ect whos trying to rause the price on mud huts they value dont go up
Whst comes up must go down😅
40,000 ? Totally incorrect number. Planned 25,000 how many will be completed, nobody know.
Rent will go down more
If Justin T resign .
Lower interest rates means most investors are back into positive cashflow.
PBRs aren't any cheaper.... the cost to build them are the same to build a condo building... they will be charging the highest rate as well.... and will be the ones losing the most money if vacancy rates go up. They can't reduce their rents either or else they've basically lit their money on fire.
Some units are cash flow positive already.
The purpose built rentals actually require more equity than a condo building. That's way more capital intensive. They won't know where rents because they'll their value due to low cap rates.
Lol they have been saying this since 2020. Rents will not go down.
Trump tariff can lead to interest rate hikes to 8 percent to stem inflation
Um sorry for your woes but renters have been taken advantage of for years. People that have been taking everyone for what they are worth even though it leads to terrible hardship don't get my sympathy.
This guy is soulless to be calling this bad news. Sit with yourself and reevaluated your core values dude
Scrap the subtitles. Too distracting!!
Just turn it off lol
You are clearly on the Landlord's side. Try and hide it better next time
1955 prices are we there yet😂😂😂
I'm doubtful lol. I feel like the price of an iPhone right now
The inflation will balance itself
Are you running for Prime Minister soon? Lol
"You'll forgive me if I don't think about monetary policy." -- a former drama teacher
We went from not enough to we have too much. lol so dumb
Welcome to Canada lol
You all (landlords) created this and did it to yourself. Deal.
Fake news
I've seen some 2 bedrooms for $1999...I mean, it's a tiny bit better...I started renting 10 years ago at $850. Now, it's $1100. I doubt it will ever get back down to what I'm currently paying.
I'm doubtful too. Basements are more than that now
You are lucky to have that rent
What population decline are you talking about??
I think he came up with that math about an hour after visiting his local Cannibis retailer
stupid video, population is not going down, inflation is going out which will continue to drive the prices of rentals higher.
BE WARNED! If you move to Toronto, you'll have to live with Canadians ALL AROUND YOU!
Sounds like a positive to me lol
Canadians would be fine with me. Non Canadians filling the streets with hate and protests is the issue.
tRwo bedroom should not cost more than $1800 in Toronto.. still way up compared to wage earned